Prosus Repurchases 1.7M Shares, Fueling Investor Optimism

Prosus N V Share Buyback
  • Prosus repurchases 1.7 million shares as part of ongoing repurchase program.
  • Shares were acquired at an average price of €65.8106 per share, totaling €111.4 million.
  • The open-ended Repurchase Program benefits free-float shareholders and is still active for future repurchases.

Prosus N.V. has announced a significant update regarding its open-ended repurchase program. The program focuses on repurchasing ordinary shares of Prosus and Naspers, benefitting the free-float shareholders of both entities. This latest development comes as Prosus successfully completed the repurchase of 1,692,901 Prosus Shares within the designated period.

Between June 5, 2023, and June 9, 2023, Prosus acquired the shares at an average price of €65.8106 per share, resulting in a total consideration of €111,410,852 (US$119,483,247). The Repurchase Program, initially disclosed on June 27, 2022, remains open-ended, signifying Prosus’ intention to continue repurchasing shares in the future.

Prosus, which has a primary listing on Euronext Amsterdam (AEX: PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE: PRX) and a2X Markets (PRX.AJ), actively operates and invests in markets with long-term growth potential. The company is widely recognized for building prominent consumer internet companies that empower individuals and enhance communities.

With a particular focus on sectors such as online classifieds, food delivery, payments and fintech, and education technology, Prosus aims to establish meaningful businesses primarily in India and Brazil. Additionally, through its ventures team, Prosus invests in various fields, including health, logistics, blockchain, and social commerce. The company continually seeks out new opportunities to collaborate with exceptional entrepreneurs who leverage technology to improve people’s everyday lives.

The diverse portfolio of Prosus includes investments, acquisitions, and developed companies that cater to billions of customers worldwide. Among the notable entities within the Prosus portfolio are Bykea, iFood, OLX, PayU, Red Dot Payment, Shipper, Swiggy, and Urban Company, among many others.

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